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Office space emerged as the most preferred segment by High Net worth Individuals (HNIs) in India, accounting for 67 per cent of their total investments in real estate, according to a report by JLL.
The country’s office sector has witnessed a growth over the last four years with the average annual net absorption crossing 30 million sq ft, leading to steady rentals and capital appreciation, until the onset of the pandemic. This segment is expected to recover the fastest due to robust fundamentals, it said.
The number of HNIs and family offices in India has been growing at a steady pace and they continue to allocate more capital into commercial real estate investments with a focus on office. Office space investments offer stable annual cash flow and capital appreciation thereby offering attractive returns for HNIs.
“Real estate, which plays the dual role of a contributor as well as a beneficiary of growth, will prove to be the most important asset class in the HNI portfolio due to its tangible nature, stable income, steady returns and collateral value. Furthermore, the nature of investments within real estate has seen transition with higher allocation towards commercial office space assets and in publicly traded Real Estate Investment Trusts, helping investors reimagine deployment strategies,” said Ramesh Nair, CEO and Country Head (India) at JLL.
Warehousing space
JLL expects additional demand for quality warehousing space, which has driven recent activities in the e-commerce, FMCG and pharma sectors. Delhi NCR, followed by Mumbai and Bengaluru, remained the top three cities in terms of warehousing space absorption in 2019 accounting for more than 20 million sq ft. of absorption.